Airbnb acquires Luxury Retreats

Airbnb Inc bought Luxury Retreats in its biggest acquisition yet as the apartment-rental website takes steps toward becoming a full-service global travel company.

Airbnb unveiled the acquisition of the Canadian manager of high-end rentals and services on Thursday, declining to disclose financial terms. The cash and stock deal was worth roughly $300 million, people familiar with the matter said. Bloomberg reported the two were in talks last week.

Accor SA, Europe's biggest hotel operator, and Expedia Inc, the global online travel giant, also bid for Luxury Retreats, people familiar with the matter said.